Ngai Tahu's finance chief resigns post

The man who runs the finances of New Zealand's richest tribe has resigned.

Ngai Tahu yesterday announced the resignation of Robin Pratt, the chief executive of the tribe's financial arm Ngai Tahu Holdings Corporation, amid plans to refine the corporation.

Ngai Tahu chief executive Tahu Potiki said the refocusing, which had wide tribal support, would match the tribe's investments with its long-term needs.

Ngai Tahu has $532 million in assets.